Friedberg Investment Management bought a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,440 shares of the semiconductor company’s stock, valued at approximately $545,000.

Several other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Power Integrations by 0.4% during the second quarter. Jennison Associates LLC now owns 5,424 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 23 shares during the period. Renaissance Group LLC raised its position in shares of Power Integrations by 1.1% during the second quarter. Renaissance Group LLC now owns 5,278 shares of the semiconductor company’s stock worth $385,000 after purchasing an additional 56 shares during the period. Pinebridge Investments L.P. raised its position in shares of Power Integrations by 2.0% during the second quarter. Pinebridge Investments L.P. now owns 3,912 shares of the semiconductor company’s stock worth $285,000 after purchasing an additional 75 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Power Integrations by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the semiconductor company’s stock worth $882,000 after purchasing an additional 100 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Power Integrations by 0.7% during the second quarter. Arizona State Retirement System now owns 15,474 shares of the semiconductor company’s stock worth $1,128,000 after purchasing an additional 100 shares during the period. 97.66% of the stock is currently owned by institutional investors.

Power Integrations, Inc. (POWI) traded up $1.35 during trading hours on Wednesday, reaching $81.55. The company had a trading volume of 114,400 shares, compared to its average volume of 172,224. The firm has a market capitalization of $2,420.00, a price-to-earnings ratio of 38.19 and a beta of 1.28. Power Integrations, Inc. has a 52-week low of $61.44 and a 52-week high of $86.60.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The firm had revenue of $111.30 million for the quarter, compared to analyst estimates of $111.82 million. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. Power Integrations’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. sell-side analysts predict that Power Integrations, Inc. will post 2.06 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.69%. The ex-dividend date is Wednesday, November 29th. Power Integrations’s payout ratio is 29.17%.

In other Power Integrations news, Director Steven Sharp sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.49, for a total value of $794,900.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Balu Balakrishnan sold 51,350 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the transaction, the chief executive officer now owns 268,226 shares in the company, valued at approximately $21,648,520.46. The disclosure for this sale can be found here. Insiders have sold 63,706 shares of company stock worth $5,116,047 over the last three months. 4.30% of the stock is owned by insiders.

POWI has been the topic of a number of recent analyst reports. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and set a $85.00 price target on shares of Power Integrations in a research report on Sunday, September 3rd. BidaskClub lowered Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Deutsche Bank AG lowered Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Tuesday, July 25th. Finally, Drexel Hamilton set a $84.00 price target on Power Integrations and gave the company a “buy” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Power Integrations has a consensus rating of “Buy” and an average target price of $83.50.

WARNING: This news story was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this news story can be read at https://www.thecerbatgem.com/2017/11/22/friedberg-investment-management-takes-545000-position-in-power-integrations-inc-powi.html.

Power Integrations Profile

Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.

Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

Receive News & Stock Ratings for Power Integrations Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations Inc. and related stocks with our FREE daily email newsletter.